Perfromance Wealth Partners LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,104,830 shares of the iPhone maker's stock after selling 43,770 shares during the quarter. Apple accounts for about 32.6% of Perfromance Wealth Partners LLC's portfolio, making the stock its largest position. Perfromance Wealth Partners LLC's holdings in Apple were worth $911,806,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC raised its position in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares in the last quarter. Family Capital Management Inc. raised its holdings in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after buying an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after buying an additional 48 shares in the last quarter. Scarborough Advisors LLC raised its stake in Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC raised its stake in Apple by 0.7% during the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after acquiring an additional 51 shares in the last quarter. 67.73% of the stock is owned by institutional investors.
Apple Stock Down 1.1%
AAPL stock traded down $2.22 during midday trading on Wednesday, reaching $209.05. 43,674,703 shares of the company's stock traded hands, compared to its average volume of 43,746,808. The company has a market cap of $3.12 trillion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.32 and a beta of 1.20. The firm's fifty day moving average price is $205.10 and its 200-day moving average price is $214.16. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the firm earned $1.53 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on AAPL shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Scotiabank downgraded shares of Apple to a "market perform" rating in a report on Friday, May 2nd. UBS Group reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 18th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 target price on shares of Apple in a report on Tuesday. Finally, Barclays set a $173.00 price objective on Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.94.
Read Our Latest Research Report on Apple
Apple Company Profile
(
Free Report)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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